Introducing NovelStem International Corp.
Hollywood Media Corp. (HMC) will be renamed NovelStem International Corp. in the next several weeks to reflect the Company’s July 2018 investment (View Press Release) and new focus on the commercial potential of NewStem Ltd. The stock symbol will also change in conjunction with the name change.
NovelStem/HMC has 20% initial ownership interest in NewStem and the right to increase its ownership up to 33% through the completion of up to $2 million in follow-on investments over the next 18 months (details below).
NovelStem/HMC owns a 50% interest in Netco Partners, a joint venture that owns the Net Force publishing franchise. NovelStem is working to monetize this legacy asset.
NovelStem has 35.4 million shares outstanding, incuding 19.25 million shares issued in a July 2018 private placement at $0.10 per share, to fund the NewStem investment.
About NewStem Ltd.
NewStem has developed novel diagnostic technology that can predict patients’ resistance to chemotherapy allowing for better, targeted cancer treatments and the potential to reduce resistance to chemotherapy. Drug resistance is a major cause of treatment failure in cancer chemotherapy, and currently it is only recognized after the first course of treatment has been completed. In nearly 50% of all cancer cases, resistance to chemotherapy already exists in the tumors before initiation of the treatment.
NewStem’s diagnostic solutions are based on the research of human haploid (1)pluripotent (2)stem cells (3) (hHPSCs) by Chief Science Officer, Professor Nissim Benvenisty of the Azrieli Center for Stem Cells and Genetic Researchat the Hebrew University of Jerusalem. NewStem holds the intellectual property, reagents and experience required for hHPSC isolation, differentiation, genetic manipulation, immunogenicity and tumorigenicity.
NewStem’s technology enables informed, personalized selection of chemotherapy treatments for cancer patients. Genetic screenings performed on haploid cells provide a unique opportunity to identify the genes responsible for resistance to chemotherapeutic agents. NewStem’s genetic screenings of hHESCs are creating a comprehensive library of mutated genes which confer resistance to individual chemotherapeutic agents. Integration of this proprietary database with the genetic profile of the patient's tumor will enable the prediction of resistance to chemotherapy prior to treatment.
NewStem is a spinoff of Yissum, The Technology Transfer Company of The Hebrew University, and is led by CEO Ayelet Dilion-Mashiah. NewStem holds the intellectual property, reagents and experience required for hHPSC isolation, differentiation, genetic manipulation, immunogenicity and tumorigenicity. In addition to its in-house development of chemotherapy resistance diagnostics, NewStem looks to leverage its unique haploid technology through collaborations with leading pharmaceutical companies or promising start-ups for the development of therapeutics for genetic disorders and for reproductive purposes.
The remaining 80% ownership of NewStem is evenly divided between Professor Nissim Benvenisty and Yissum Research Development.
Glossary of Terms:
1. Haploid cells: are human cells containing only one set of chromosomes. Most cells in our body are diploid, containing two sets of chromosomes, one inherited from the mother and the other from the father. The only exception are haploid egg and sperm; however, these cells cannot divide to make more of their own. Recently, haploid human pluripotent stem cells were derived, and these cells can divide and differentiate to all cell types while remaining haploid. Link to video about Haploid Human Embryonic Stem Cells
2. Stem cells: are undifferentiated cells of a multicellular organism that are capable of giving rise to indefinitely more cells of the same type, and from which certain other kinds of cell arise by differentiation. In other words, stem cells can divide to produce more stem cells and can also differentiate into other types of cells.
3. Pluripotent stem cells: are master stem cells that can produce any cell or tissue in the body. This “master” property is called pluripotency, and like all stem cells, they arealso able to self-renewor perpetually create more copies of themselves.